Reuters - Few laid off workers can afford to take advantage of a U.S. program that helps people keep their health benefits, and many low-income workers are not eligible, a report released on Friday said.

AP - Prime Minister Gordon Brown says the duration of Britain's recession depends on the degree of international cooperation in battling the economic crisis.

Reuters - Lost jobs, bankruptcies and home foreclosures have forced Americans to cut their spending, but one luxury sector is more interested in weather forecasts than economic forecasts -- the ski business.

AP - The British economy has officially sunk into recession, with government figures Friday showing the economy shrank 1.5 percent in the fourth quarter of last year as the financial crisis ravaged banks, retail and manufacturing.

Reuters - Samsung Electronics (005930.KS) posted its first ever quarterly loss as its memory chip and display units buckled under the weight of diving prices, and the technology giant faces even more pain as global recession saps demand.

AP - The British economy has officially sunk into recession, government statistics showed Friday, with output falling 1.5 percent in the fourth quarter of last year as the financial crisis ravaged banks, retail and manufacturing.

Reuters - President Barack Obama said on Friday he expected an $825 billion stimulus package for the ailing U.S. economy to be approved by his target of mid-February and personally urged congressional leaders to work swiftly to pass it.

Reuters - President Barack Obama said on Friday he appeared to be 'on target' to win approval by mid-February for an economic stimulus plan to boost the ailing economy but some differences remained to be worked out.

AFP - The new US administration will send only one of President Barack Obama's close aides to the World Economic Forum's meeting in Davos next week instead of key economic figures, the organisers said Friday.

AFP - Top US motorcycle maker Harley-Davidson said Friday it would slash 1,100 jobs and production capacity as profits tumbled following reduced sales amid a deepening recession.

AP - Treasury Secretary-designate Timothy Geithner says President Barack Obama believes China is 'manipulating' its currency, a declaration that American manufacturers have long sought in their efforts to combat America's soaring trade deficit with China.

Reuters - California's unemployment rate jumped to 9.3 percent in December from 8.4 percent in November and 5.9 percent a year earlier as job cuts swept across most industries, with recession tightening its grip on the most populous U.S. state, state officials said on Friday.

AP - The European economy sank further Friday, with figures confirming Britain is officially experiencing its worst recession in nearly 30 years, 3.2 million unemployed in Spain, and Iceland's government succumbing to pressure and calling early elections.

Reuters - Abercrombie & Fitch Co has laid off about 50 employees at its headquarters, a spokesman said on Friday, as part of what the teen retailer called its ongoing focus on managing expenses in the recession.

AFP - Top Republican lawmakers on Friday unveiled a plan for tax cuts and other steps meant to pull the battered US economy out of its slump after White House talks with President Barack Obama.

AP - House Republican leaders presented President Barack Obama on Friday with proposals to stimulate the economy that rely exclusively on tax cuts and envision none of the federal spending backed by Democrats and the administration.

Reuters - British Prime Minister Gordon Brown has spoken with Barack Obama for the first time since his inauguration as president of the United States, Downing Street said on Friday.

AFP - US President Barack Obama spoke to Gordon Brown on Friday about the global economic downturn and the Middle East, the prime minister's office said.

AFP - US President Barack Obama on Friday called UN chief Ban Ki-moon to review a host of world issues, including the global economic crisis, climate change and food security, the world body and the White House said.

Reuters - The U.S. Congress's most powerful Republican on Friday backed President Barack Obama's call to set aside political differences and cooperate on efforts to revitalize the economy and resolve other issues.

AP - President Barack Obama sought to dampen Republicans' complaints about the Democrats' massive economic revival package Friday with an offer to listen carefully to their ideas, too. But he gave no guarantees he'd accept any — and made a point of reminding them who won the November election.

Reuters - U.S. congressional Republicans predicted on Friday that legislation to boost the sagging economy would pass by mid-February, but pressed President Barack Obama to support more tax cuts in the plan.

Reuters - Microsoft Corp CEO Steve Ballmer said the U.S. economy likely will not bottom out until about a year from now, and it will return to a slow growth-track only after a few years, according to people who attended a meeting with Ballmer and other executives on Friday.

Reuters - U.S. Senate Democrats on Friday unveiled their version of a massive economic stimulus proposal that, like its counterpart in the House of Representatives, would provide new emergency spending and tax cuts totaling $825 billion.

AFP - The Australian government on Saturday unveiled a four billion dollar (2.6 billion US) stimulus plan for the nation's building industry, taking its total spend to combat the global economic crisis to 40 billion dollars.